Ninety-percent of X company's total sales of $600,000 is on credit. If its year-end receivables turnover is 5, the average collection period (based on a 365-day year) and the year-end receivables are, respectively:
a) 365 days and $108,000.
b) 73 days and $120,000.
c) 73 days and $108,000.
d) 81 days and $108,000.
